The Gitxsan First Nation is taking a stake in Enbridge’s proposed C$5.5 billion (US$5.43 billion) Northern Gateway oil pipeline project, becoming the first aboriginal tribe to endorse the project, the Calgarybased pipeline giant and the Gitxsan First Nation said in a statement Friday. Terms were not disclosed, but the Gitxsan First Nation said it expects to generate at least $7 million in net profits from the joint agreement. Enbridge is providing a loan “at favorable rate” to allow the group to participate in the project.
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